Tech Mpire Ltd (ASX:TMP) announced this morning that for the month of June the company has increased revenue by 83 per cent to $2.9million. Following the acquisition of Livelynk Group Pty and a successful capital raising, the company is very pleased to announce another solid month of growth.
Tech Mpire is a performance-based online and mobile marketing solutions provider operating across a wide range of sectors with a reach to consumers in over 180 countries.
The rise of 83 per cent in revenue is a record for the company and as a result the core operating business traded profitably over the month of June. The impact of access to capital is evident in the continued performance results. Revenue for the June quarter is $5.73million, up 73 per cent from the March quarter. Revenue from the second half of the financial year (ending 30 June) increased by 176 per cent to $9.04million from the first half of the financial year ending 30 December.
Increased demand for the company’s performance-based targeted advertising capabilities, coupled with a high client retention rate, has fuelled the rapid growth experienced by the company.
Tech Mpire’s MD, Luke Taylor said: “Tech Mpire is a rapidly growing online advertising company with a global presence, and to achieve a record revenue for June is a significant result for the Company. Whilst we don’t envisage such significant month-on-month revenue increases going forward, we remain committed to growing our advertiser base and growing revenue.”
Tech Mpire’s operator, Livelynk Group Pty, was acquired by Fortunis Resources Ltd in June this year. Once the ‘new’ company recommenced trading on the ASX, Tech Mpire’s share price rallied 38 per cent from $0.34 to $0.55 within 10 days. Its share price has since settled and is closed yesterday at $0.535. Following this morning’s announcement, its share price has rallied almost 20 per cent in the first 30 minutes of trading as investors fight for a slice of the cake.
Author: Ben Visser
Jul 21, 2015
Ben is a Wise-owl equity analyst focusing on ASX blue-chips stocks. Ben has a Bachelor of Business in Finance majoring in property valuations and management. In his role at Wise-owl Ben conducts in-depth fundamental and technical analysis which helps him to find profitable investment opportunities on the ASX and abroad.